Whether it is Goldman Sachs’ central role in the subprime crisis, handing out hundreds of millions in bonuses soon after receiving a $10 billion taxpayer bailout, or CEO Lloyd Blankfein claiming that his company does “God’s work,” this Wall Street giant has rightfully earned the leading role in the story of “All That is Wrong with Wall Street.” Ten years ago neighborhood residents from 20 states came to Washington, DC to try and block the repeal of Glass-Steagall, the Depression era banking act that provided a firewall between commercial banks and investment firms. Led by longtime community leader, Gale Cincotta, hundreds of Americans went to the home of Phil Gramm, the champion of this deregulatory effort, to challenge the then Texas Senator to reverse course. He didn’t, and the American people have paid the price for it

November 13th, 2009
Money maker
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